General Motors is focusing on the future, with the Chevrolet Silverado EV WT beginning production for commercial customers this year.   -  Photo: Work Truck/General Motors

General Motors is focusing on the future, with the Chevrolet Silverado EV WT beginning production for commercial customers this year. 

Photo: Work Truck/General Motors

General Motors (GM) has released its 2022 full-year results. In 2022, the automaker noted that it led the U.S. industry in total sales and delivered the largest year-over-year increase in market share of any OEM, thanks to strong demand for its products and improved supply chain conditions.

In a letter to GM Shareholders, Mary Barra, chair and CEO for General Motors, shared its year-end results. GM’s full-year 2022 revenue was $156.7 billion, net income attributable to stockholders was $9.9 billion and EBIT-adjusted was a record $14.5 billion. Results were at the high-end of the company's revised EBIT-adjusted guidance range.

Additionally, GM noted that Chevrolet and GMC are the clear market leaders in the U.S. for pickups and full-size SUVs. 

“We expect that our momentum will help us deliver strong results once again in 2023. In fact, we have all the essential ingredients to deliver EBIT-adjusted in a range of $10.5 billion to $12.5 billion thanks to our strong operating performance,” Barra said.

The company expects its core auto operations to perform at a consistently strong level in 2023, with full-year net income attributable to stockholders of $8.7 billion-$10.1 billion, EBIT-adjusted of $10.5 billion-$12.5 billion, and EPS-diluted and EPS-diluted-adjusted of $6.00-$7.00.

The 2024 Chevrolet SIlverado 3500 HD is getting some updates   -  Photo: General Motors

The 2024 Chevrolet SIlverado 3500 HD is getting some updates 

Photo: General Motors

General Motors 2022 Truck Sales Highlights

In 2022, GM had its third-consecutive year of full-size truck leadership and ninth consecutive year of combined full-size and mid-size pickup truck leadership. As reported earlier this month in Work Truck, in terms of just Silverado sales, the company sold the following in the fourth quarter: 

  • 91,413 Silverado Light Duty (1500) units, up 8.3%.
  • 47,462 Silverado Heavy Duty (2500 HD and 3500 HD) units, up 69%.
  • 3,037 Silverado Medium Duty (4500 HD, 5500 HD, 6500 HD) units, up 5.9%.

The investments GM has made in HD manufacturing capacity and new off-road models has created growth, and according to the automaker, supports “strong pricing.”

Ready for Electric? GMC Introduces 2024 Sierra EV

Overall, GMC Sierra sales were down from 2021 to 2022, with year-to-date overall truck sales down 1.68% versus the prior year. 

In 2023, GM is planning:

  • Redesigned Chevrolet Silverado HD and GMC Sierra HD.
  • New Chevrolet Colorado and GMC Canyon midsize pickups.
  • Chevrolet Silverado EV WT begins production for commercial customers.
The 2024 GMC Sierra 2500 HD is ready for off-road work with a luxury upgrade and feel.     -  Photo: General Motors

The 2024 GMC Sierra 2500 HD is ready for off-road work with a luxury upgrade and feel.   

Photo: General Motors

GMC was the No. 1 premium truck brand in 2022, according to GM, with 46% of retail sales in Denali or AT4 trims.

And, in 2022, the Hummer EV pickup production resumed at Factory Zero, with Hummer EV SUV to launch in 2023.  

Learn more about GMFleet and be sure to sign-up for the Work Truck eNewsletters so you never miss an update from fleet's top automakers. 

About the author
Lauren Fletcher

Lauren Fletcher

Executive Editor - Fleet, Trucking & Transportation

Lauren Fletcher is Executive Editor for the Fleet, Trucking & Transportation Group. She has covered the truck fleet industry since 2006. Her bright personality helps lead the team's content strategy and focuses on growth, education, and motivation.

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